Thailand property has been identified as one of the “worst nine housing markets around the world” by a respected America website.
Whilst there are concerns from some quarters about the strength of Thailand’s property and real estate markets, this is simply not true. In some quarters it could be classed as fake news.
Worryingly, since publication yesterday the story has seen more than 55,000 “engagements”, according to the website’s own data as of 5am this morning on Friday.
So why are we so sure this story is wrong, and Thailand is not the eighth worst housing market it the world?
This story uses data from a website called the Global Property Guide, and in the past, we have called out this website for not providing a complete picture of the Thailand property market. In some ways it’s not their fault as there is no all-encompassing data for the entire Thailand property market – anywhere.
The website uses now outdated data covering the second quarter that was first published more than two months ago.
That’s less important though.
What’s most important, and gives the wrong assumption in this story, is Global Property Guide uses the Bank of Thailand’s House price index for single detached houses as its sole measure of the entire Thailand property market.
That’s not even a market that foreign buyers, who are becoming increasingly important to the Thailand property market, can participate in legally.
A copy of this story is being sent to the author of the original story, Elena Holondy, requesting a clarification or correction.